Jamie Dimon, CEO of JPMorgan Chase, expresses concerns about the possibility of stagflation, likening the current economic conditions to the challenging period experienced in the 1970s.
Dimon emphasizes caution and skepticism about the economy, mentioning a potential soft landing but expressing doubts about its inevitability.
Dimon's remarks coincide with rising inflation rates surpassing the Federal Reserve's 2% target, driven by increased costs in gas and housing.
The U.S. economy experienced slower growth in the first quarter of the year, as indicated by a Commerce Department report, aligning with Dimon's concerns about economic conditions.
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